=+1. Determine the annual depreciation expense for each ofthe estimated five years of use, the accumulated depreciation at the end of each year, and the book value ofthe equipment at the end of each year by

(a) the straight-line method and

(b) the double-declining-balance method (at twice the straight-line rate). The following columnar headings are suggested for each schedule:

Accumulated Depreciation Depreciation, Book Value, Year Expense End ofYear End ofYear 2. Illustrate the effects on the accounts and financial statements ofthe sale.